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I would assume that when we’re talking about billions of dollars that the people in charge of creating an IPO strategy are a bit more ahead of the markets than the rest of us right? Full disclosure I’m not knowledgeable in this area, but it would seem to me that this is the case and having made plans months before the market turns isn’t necessarily proof that it isn’t being done with market knowledge. Just a thought.

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From what I read in Matt Levine's bloomberg column - not really. Bankers make money by being middle men, not predicting the market.

Yah, there are people in finance who try and work out what the market is doing, but those people aren't really the people who work in M&A banking.

Global markets have been in a downward spiral since the beginning of this year, esp ex US (where most of the growth has been), and if you look at the divergence between the growth this year between US companies, fewer and fewer companies have been holding up the market.

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